The International Air Transport Association (IATA) said today that passenger and cargo traffic should regain pre-September 11th levels in 2003, but globally financial recovery could take a further year.
"By the end of 2003, we expect to recover most of our lost ground and to be back at pre-September 11th volumes," IATA's new Director General Giovanni Bisignani said.
Encouraging first half figures for airlines outside the United States suggested that losses on international scheduled operations would fall to $4-6 billion in 2002, down from $12 billion last year and lower than the $4-8 billion IATA had predicted in April, the Geneva-based body said in a report.
Passenger traffic was seen declining three per cent this year before rebounding six percent in 2003. Average growth up to the end of 2006 was expected to reach four per cent.
But outside the United States, passenger traffic was likely to increase one percent in 2002 and then grow five per cent in 2003 and 2004 and four per cent in the following two years.
Recovery has been strongest in the Asian Pacific market. In Europe, carriers with the largest exposure to the United States continued to feel greatest negative impact.
In its report, IATA hit out at airport and air traffic control (ATC) companies for not shouldering enough of the increased financial burden from heightened security measures taken after the suicide plane attacks in the United States.
"It is unacceptable that in a year in which airlines without exception have suffered losses amounting to billions of dollars, some industry partners including airports and ATC providers have posted strong profits," Bisignani said.
Bisignani, formerly chief of the joint airline booking system OPODO, took over in June at the head of IATA - which represents some 98 percent of airlines operating international services - from one-time Air Canada head Pierre Jeanniot.